Gold prices dip in face of strengthening US Dollar

• Gold slightly down in late trading, still up 0.40% for the week amid geopolitical tensions.
• Mixed US economic data; higher Housing Starts, lower Building Permits minimally impact Bullion.
• Fed Governor Waller’s dovish comments suggest potential for early rate cuts.

Gold’s price dropped late in the North American session, but it is set to finish the week with gains of over 0.40% as market players await the inauguration of US President-elect Donald Trump. Although the XAU/USD trades at $2,701, down 0.44%, investors continued to buy the golden metal due to political uncertainty.

The precious metal continues to be driven by geopolitics and politics in the United States (US). Although US Treasury bond yields in the belly of the curve remained unchanged, Bullion buyers failed to push prices higher to book additional gains ahead of the weekend.